The National Bank of Canada Acquires Approximately $273 Million Worth of Strategy Stock

On December 5th: The U.S. core PCE price index dropped to 2.8% year-over-year in September, unexpectedly hitting a three-month low. This marked the third consecutive month where market forecasts had called for 2.9%. (FXStreet)

On December 5th, the U.S. September Core PCE Price Index (year-over-year) was reported at 2.8%—below the expected 2.9% and matching the prior reading of 2.9%. (FXStreet)

On December 5, per Coinglass data, $97.297 million in total liquidations were recorded across the network over the past 4 hours—including $90.403 million in long positions and $6.8934 million in short positions. Over the past 24 hours, 113,512 traders globally faced liquidation, with total liquidation volume hitting $350 million. The single largest liquidation was on Hyperliquid’s FARTCOIN-USD pair, amounting to $5.4127 million.

As of December 5th, Coinglass data indicates that if Bitcoin falls below $88,000, the cumulative long liquidation intensity across mainstream centralized exchanges (CEXs) will reach $617 million. Conversely, should Bitcoin rise above $92,000, the cumulative short liquidation intensity for these same mainstream CEXs will hit $455 million. BlockBeats Note: Liquidation charts do not display the exact number or value of contracts being liquidated. Instead, the bars on these charts reflect the relative importance of each liquidation cluster compared to adjacent clusters—meaning their "intensity." Put simply, the chart shows how impactful a given price level will be: taller bars signal that hitting that price will trigger a more intense reaction due to a liquidity cascade.

December 5th: Bank of America (BofA) noted that despite the Federal Reserve delivering a cautious policy signal, markets may soon start pricing in a rate cut more aggressively for January next year. The bank expects the Fed to deliver a 25-basis-point rate cut in December, while issuing more hawkish forward guidance and showing dissenting views among policymakers; its economic projections are expected to point to stronger growth and lower inflation. BofA believes that with a heavy slate of data set to be released ahead of January, Fed Chair Powell will struggle to effectively temper market expectations for further policy easing. Analysts noted that as markets focus on upcoming data releases, Powell is unlikely to shift market policy expectations given the central bank’s “data-dependent” approach. (Source: FXStreet)

Per HTX market data, Bitcoin briefly fell below $90,000 on December 5, registering a 2.66% drop over the past 24 hours.